Oklahoma State Bank - Hastings, OK

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 19, 1932
Location: Hastings, Oklahoma (34.227, -98.110)

Metadata

Model: gpt-5-mini
Short Digest: 5d46b5a6

Response Measures

Full suspension, Books examined

Other: Bank to reopen for liquidation under depositor agreement (payments as collections/dividends over about two years).

Description

Heavy withdrawals followed the recent closing of the Temple bank. The Oklahoma State Bank failed to open (suspension) and was placed in charge of the state bank examiner; depositors agreed to allow the bank to open for liquidation and receive collections over a two-year period — effectively a suspension leading to permanent winding up rather than resumption of normal banking.

Events (3)

1. January 19, 1932 Run

Cause: Local Banks
Cause Details: Heavy withdrawals triggered by the recent closing of the Temple bank in the area, producing runs on this bank.
Measures: Depositors later met and agreed not to demand deposits for two years; bank to open for liquidation and pay collections as dividends.
Newspaper Excerpt: Due heavy runs on the bank made following the closing of Temple bank last week
Source: newspapers

2. January 19, 1932 Suspension

Cause: Local Banks
Cause Details: Failed to open following heavy runs related to collapse of Temple bank and frozen assets; placed in charge of state bank examiner.
Newspaper Excerpt: which failed open Tuesday morning...has since been in charge of state bank examiner.
Source: newspapers

3. January 25, 1932 Reopening

Newspaper Excerpt: HASTINGS BANK MAY REOPEN NEXT WEEK ... Under this plan, the bank will open for liquidation, the depositors agreeing not to demand their deposits period of two years, the collections being paid to them in the form of dividends.
Source: newspapers

Newspaper Articles (1)

1. January 22, 1932 Waurika News-Democrat Waurika, OK

Article from Waurika News-Democrat, January 22, 1932

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Article Text

HASTINGS BANK MAY REOPEN NEXT WEEK Conditions Thursday seemed to indicate definitely that the Oklahoma State Bank of Hastings, which failed open Tuesday morning, would have its affairs in shape by early next week that will able to open for the purof liquidation and in charge pose of the old bank officers, president and John R. Stephens, Reynolds, cashier. Due heavy runs on the bank made following the closing of Temple bank last week and to frozen assets, the bank failed to open Tuesday morning and has since been in charge of state bank examiner. A meeting of the depositors was held Tuesday night and outlined which will perplan mit the bank to reopen just as the agreement has been as sanctioned by all of the depositUnder this plan, the bank ors. will open for liquidation, the depositors agreeing not to demand their deposits period of two years, the collections being paid to them the form of dividends. The bank has sufficient good pato all depositors as soon per pay it be collected and then can have good margin left over. There appears be no doubt about the depositors being able to collect in full. Practically all of the bank's 420 depositors have agreed to the plan and the agreement will probably be closed by the first of next week. The Hasting community has been hit hard in addition the slump that has come the country as whole. In 1930, the entire trade territory had its crop wiped out in hail storm. Complete confidence held the bank officials and the depositors are anxious to have them liquidate the affairs of the bank. Family Reunion The home of Mr. and Mrs. Brantley was the scene of happy family gathering Sunday when all their children and grandchildren were home to enjoy birthday dinner honoring their mother who 75 years age on that day. A fine family visit was enjoyed and bounteous dinner served at noon. Guests were Mr. and Mrs. Brantley, son and daughter, Ivory Esther; Mr. and Mrs. Brantley and son, Junior; Mr. and Mrs. G. Brantley and children, Avon, Everett, Ozell and Evelyn who Friday night from Brownfield, Texas; Mr. and Mrs. P. A. Brantley and children, Gardner, Paul, Russel and Juanita; Mr. and Mrs. H. Brantley and children, Melvin, Glenn, Mont, Doyle and Billy Merle, of Sterling: Mr. and Mrs. Brantley and daughter, Opal; Mr. and Mrs. C. Brantley and children, Mondel, James and Earlene; Mr. and Welch and children, Elsie, Elvie and Mildred; Mr. and Grover Brantley and family;